Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
NOTE D - EARNINGS PER SHARE

Basic Earnings per share is calculated by dividing the net income by the weighted average number of outstanding common shares during the period.  Diluted per share data included the dilutive effects of options, warrants and restricted stock units.  Potential shares of 2,830,000 and 3,575,000 at December 31, 2017 and 2016, respectively, consisted of options, restricted stock units and warrants.  Computations of basic and diluted weighted average common shares outstanding are as follows:

 

    2017     2016  
             
Weighted-average common shares outstanding - basic     24,147,908       23,320,065  
                 
Dilutive effect of options, warrants and restricted stock units     2,248,252       1,565,217  
                 
Weighted-average common shares outstanding - diluted     26,396,160       24,885,282  
                 
Options, restricted stock units and warrants excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive           230,978